Jun
3
2009
Do homework before changing insurance companies, plans
Author: Byron UdellA recent article in the News Tribune explains it all. Insurance is supposed to make you feel safe, but with the financial crisis, people are now asking themselves if they can count on their insurance company. As I mentioned in my post on June 1, 2009, life insurance companies are seen fit to survive the crisis according to the Wall Street Journal.
According to the article, the National Association of Insurance Commissioners, an organization of state government insurance regulators has issued an alert to consumers to beware of insurance agents or financial planners suggesting that people liquidate an annuity or life insurance policy to buy another. It warns people not to feel pressured into any immediate decision.
So what should you do? Check ratings…stick with top-rated companies by checking A.M. Best Co. Stay with A or better rated companies.
